GSK Buys Chimagen Cancer Drug in $750M Deal
GSK agreed to a deal worth up to $750 million to acquire a cancer-targeting drug from Chimagen Biosciences. The London-listed company plans to develop the therapy for multiple myeloma.
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GSK PLC-SPON ADR agreed to pay up to $750 million on Tuesday morning for a cancer-targeting drug from China-based Chimagen Biosciences. The deal expands the drugmaker's oncology pipeline as patent cliffs approach for its key HIV treatments. The acquisition gives the pharmaceutical firm full global rights to a trispecific T cell-engager program designed to combat blood cancers.
